CP22: Notification Form by Employer for New Employee in Malaysia
Form CP22 is a mandatory form for employers in Malaysia to notify the Inland Revenue Board of Malaysia (IRBM) about any new employees who are or are likely to be liable for income tax. This form must be submitted within 30 days from the date the employee starts working.
Here's what you need to know about CP22:
What information is needed?
Employer details: Company name, IRBM file number (E number), address, phone number.
Employee details: Name, identification number (NRIC or passport), address, phone number, income tax number (if available).
Employment details: Start date, job title, expected duration of employment, nature of employment, monthly salary.
Spouse's details (if married): Name, identification number, income tax number (if available), phone number.
Where to submit?
Online through the IRBM MyTax portal.
In person at the nearest IRBM office.
Penalties for non-compliance
A fine of RM200 to RM20,000.
Imprisonment for a term not exceeding 6 months.
Employer liable to pay the full amount of employee's tax due.
Lembaga Hasil Dalam Negeri Malaysia (IRBM) website:
How Bestar can Help
Bestar can help payroll services in Malaysia in a few key ways:
1. Streamlining payroll processes:
Payroll software: Bestar offers a comprehensive payroll software solution that automates time-consuming tasks like calculating salaries, deductions, and taxes. This frees up valuable time for payroll professionals to focus on more strategic tasks.
Web-based platform: Bestar's payroll platform is accessible from any internet-connected device, making it easy for employees to access their paystubs and make changes to their information.
Integration with other systems: Bestar's payroll software can be integrated with other systems such as accounting software and HR systems, further streamlining the payroll process.
2. Reducing costs:
Competitive rates: Bestar offers competitive rates for its payroll services, which can help businesses save money on their payroll costs.
Automated compliance: Bestar's payroll software automatically handles all compliance requirements, such as taxes and deductions. This reduces the risk of penalties and fines.
Reduced administrative burden: By automating payroll processes, Bestar can help businesses reduce the administrative burden on their payroll staff.
3. Providing expert support:
Qualified accountants and tax agents: Bestar has a team of qualified accountants and tax agents who can provide expert advice and support on all payroll matters.
Compliance monitoring: Bestar's Compliance Officer monitors submission deadlines and assists with all compliance matters, ensuring that businesses are always compliant with the latest regulations.
Free advice: Bestar offers free advice to its clients on a variety of payroll and tax matters.
Here are some of the specific features and services that Bestar offers to help with payroll services in Malaysia:
Payroll processing: Calculation of salaries, deductions, and taxes, generation of paystubs.
EPF and SOCSO contributions: Automated calculation and remittance of EPF and SOCSO contributions.
Tax filing: Preparation and filing of annual income tax returns.
Employee self-service portal: Employees can access their paystubs, update their information, and make changes to their benefits online.
HR consulting: Bestar also offers HR consulting services, such as recruitment, onboarding, and performance management.
Overall, Bestar can help businesses in Malaysia streamline their payroll processes, reduce costs, and ensure compliance with the latest regulations.
Here are some additional resources that you may find helpful:
Contact Bestar today!